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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Reach4entertainment Enterprises Plc | LSE:R4E | London | Ordinary Share | GB00B1HLCW86 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.225 | 0.20 | 0.25 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMR4E
RNS Number : 0100U
Reach4Entertainment Enterprises PLC
18 October 2017
The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
18 October 2017
reach4entertainment enterprises plc
('r4e', 'the Company' or 'the Group')
Banking Update
r4e, the transatlantic media and entertainment company, provides the following update on its banking facilities.
On 31 August 2017, the Company announced in a trading update that due to a shift in revenues towards the end of the current year and into 2018 this may result in a potential breach of the monitoring covenants in the third quarter on its 3-year secured asset based debt facility (the "Facility") with PNC Business Credit ("PNC"). The Company has now determined that the quarterly monitoring covenants for the third quarter of this year have been breached and has notified PNC.
Importantly, the Company still expects to be comfortably within the banking covenants on the Facility for the full year and the Directors of the Company understand that PNC remains fully supportive of r4e. Furthermore, r4e and PNC are working towards a formal waiver of the current breach being issued before the Company's financial year-end 31 December 2017.
Enquiries:
Hot Features
Premium
reach4entertainment enterprises
plc
+44 (0) 20 7968
Marc Boyan, Chief Executive Officer 1655
Allenby Capital (Nominated Adviser +44 (0) 20 3328
and Broker) 5656
Jeremy Porter/James Reeve
Novella Communications (Financial +44 (0) 20 3151
PR) 7008
Tim Robertson/Toby Andrews
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFFEFWAFWSESS
(END) Dow Jones Newswires
October 18, 2017 13:03 ET (17:03 GMT)
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